The Best Mortgage Lenders in Paramount, CA
Compare verified mortgage lenders serving Paramount, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Paramount
Featured Mortgage Lenders
New American Funding
New American Funding
New American Funding is a highly-rated mortgage lender renowned for its exceptional customer service, competitive rates, and commitment to serving diverse communities. Founded in 2003, they have over 20 years of experience and specialize in a wide range of loan products, including FHA and VA loans, which are popular in Southern California. They have a strong local presence in the Los Angeles metropolitan area, including Paramount, and are praised for their reliability, transparent processes, and high customer satisfaction scores. Their team offers personalized guidance, making them a top choice for homebuyers in the region.
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Caliber Home Loans
Caliber Home Loans Inc.
Caliber Home Loans is a reputable mortgage lender known for its innovative loan solutions and personalized service. Established in 2008, they have 15 years of experience and offer competitive rates, particularly for conventional and government-backed loans. They serve the Paramount area through regional offices and have built a strong reputation for efficient processing and customer-centric approaches. With high ratings for reliability and a focus on community engagement, Caliber is a trusted option for home financing in Southern California.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a top-rated lender with two decades of experience, offering a comprehensive range of loan options and dedicated customer support. Founded in 2003, they are known for their competitive rates, streamlined application process, and expertise in various mortgage types, including jumbo and reverse mortgages. They have a significant presence in California, serving Paramount and the broader Los Angeles area, and are highly regarded for their professionalism, reliability, and strong customer satisfaction records. Their local loan officers provide tailored advice, making them a preferred choice for many homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Paramount, CA
What are the current mortgage rates like for homes in Paramount, CA?
Mortgage rates in Paramount are generally competitive with the broader Los Angeles County market, typically ranging from the mid-6% to low-7% for a 30-year fixed-rate loan as of late 2023. Your specific rate will depend on your credit score, loan type, and down payment. It's wise to compare rates from both local credit unions and national lenders serving the area.
Are there any first-time homebuyer programs specific to Paramount that can help with down payment assistance?
Yes, Paramount homebuyers can access the CalHFA conventional or FHA loan programs, which often provide down payment assistance in the form of a deferred-payment junior loan. Additionally, the City of Paramount itself may occasionally offer local assistance programs or grants, so it's beneficial to check directly with the Paramount Community Development Department for the most current offerings.
How does the high property demand in the Los Angeles area impact the mortgage process for a home in Paramount?
The competitive market in Paramount often means you may be up against multiple offers, making a strong pre-approval letter from a reputable local lender crucial. Sellers favor buyers who can demonstrate solid financing. Being prepared to move quickly and potentially offering above the asking price can be necessary, so ensure your mortgage pre-approval is in order before you start house hunting.
What are the typical property taxes for a home in Paramount, and how are they handled in a mortgage?
Property taxes in Paramount are approximately 1.1% to 1.2% of the purchase price, which is standard for Los Angeles County. These taxes are typically included in your monthly mortgage payment, held in an escrow account, and paid by your lender directly to the county tax collector when they are due, simplifying the process for you.
Are FHA loans a common and practical option for buying a home in Paramount's market?
Absolutely. FHA loans are very popular in Paramount, especially for first-time buyers, as they allow for a lower down payment (as low as 3.5%) and are more forgiving of lower credit scores. Given the mix of older and newer housing stock in the city, the FHA's property condition requirements are an important factor to consider during the appraisal process.
Why Choose a Mortgage Lender in Paramount?
Local Market Knowledge
Lenders who understand Paramount's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in California.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Paramount and get competitive rates on your home loan.